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CSC 2Q Net Off 15% As Revenue, Margins Weaken; View Mixed

DOW JONES NEWSWIRES CSC's (CSC) second-quarter earnings fell 15% as the information-technology company reported weaker revenue and margins along with sharply higher taxes. It raised its profit target for the year by 5 cents to $5.35 to $5.45 a share but lowered its revenue view to $16.5 billion to $17 billion from $16.8 billion to $17.2 billion. The information-technology services company, which provides services from consumer-credit information to online-data security, has benefited from increased IT outsourcing. For the quarter ended Oct. 1, CSC reported a profit of $184 million, or $1.18 a share, down from $216 million, or $1.40 a share, a year earlier. Revenue decreased 1.6% to $3.98 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.17 on revenue of $4 billion. Gross margin fell to 20% from 20.4%. CSC's managed-services segment, which is its largest by revenue and which mainly covers government contracts, saw revenue edge up 0.1%. Its North American public-sector business reported revenue declined 4.5%. Shares closed Tuesday at $48.79 and were down 1.4% premarket to $48.10. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;

Stock News for Computer Sciences (CSC)
DateTimeHeadline
05/26/201606:02:13Filing of Certain Prospectuses and Communications in Connection...
05/26/201606:02:12Filing of Certain Prospectuses and Communications in Connection...
05/26/201606:01:37Filing of Certain Prospectuses and Communications in Connection...
05/25/201619:39:00HP Inc. Revenue Declines; Full-Year Guidance Cut--Update
05/25/201618:16:00CSC annonce sa fusion avec la division des services aux entreprises...
05/25/201617:32:17Filing of Certain Prospectuses and Communications in Connection...
05/25/201617:29:13Filing of Certain Prospectuses and Communications in Connection...
05/25/201617:21:00Current Report Filing (8-k)
05/25/201616:40:00HP Inc. Revenue Declines; Full-Year Guidance Cut
05/25/201616:38:00HP Inc. Revenue Declines; Full-Year Guidance Cut
05/25/201607:39:00CSC meldet Fusion mit Enterprise Services-Sparte von Hewlett...
05/25/201606:01:30Filing of Certain Prospectuses and Communications in Connection...
05/25/201606:00:00GCS e-Santé Bourgogne Selects CSC to Implement eTICSS Program
05/24/201617:13:59Current Report Filing (8-k)
05/24/201617:09:00CSC Delivers Solid Results in Fourth Quarter and Fiscal Year...
05/24/201617:00:00HP Enterprise to Spin Off, Merge Services Business
05/24/201616:28:00CSC Fourth Quarter 2016 Results Analyst Call Rescheduled for...
05/24/201616:05:00CSC Announces Merger with Enterprise Services Segment of Hewlett...
05/23/201608:00:00CSC Announces Aspediens Acquisition, Adding European Leader to...
05/18/201616:41:14Statement of Changes in Beneficial Ownership (4)

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